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Your home value declined: why your taxes may still go up (Fraser Valley Current)


... Although home prices are directly tied to property taxes, your own home’s value isn’t the only factor involved. Just as important is the value of other properties in your municipality.

Two years ago, amid spiking home values, we explained that a homeowner could see their tax bills decrease even if their property values rose. Today, the reverse is true: most people whose homes decreased in value will still pay higher taxes next year.

This is because property taxes aren’t set like income taxes ...

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